Marqeta (NASDAQ:MQ) Director Purchases $100,490.10 in Stock

Marqeta, Inc. (NASDAQ:MQ) Director Judson Linville purchased 25,570 shares of Marqeta stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $3.93 per share, with a total value of $100,490.10. Following the acquisition, the director directly owned 104,220 shares of the company’s stock, valued at approximately $409,584.60. This trade represents a 32.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Marqeta Trading Up 1.3%

Shares of Marqeta stock traded up $0.05 during trading on Monday, reaching $3.89. The stock had a trading volume of 4,697,755 shares, compared to its average volume of 4,122,361. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -129.67 and a beta of 1.48. The stock has a fifty day moving average price of $4.40 and a two-hundred day moving average price of $4.93. Marqeta, Inc. has a 52 week low of $3.47 and a 52 week high of $7.04.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company had revenue of $172.11 million for the quarter, compared to the consensus estimate of $167.05 million. During the same period last year, the company earned ($0.05) earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, equities analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MQ has been the subject of a number of recent analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $4.50 price objective (down from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. Morgan Stanley dropped their price target on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Zacks Research downgraded Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Wolfe Research cut shares of Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Marqeta in a report on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 price objective on the stock. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Marqeta presently has a consensus rating of “Reduce” and an average target price of $5.14.

Institutional Investors Weigh In On Marqeta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in Marqeta in the 1st quarter valued at approximately $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Marqeta by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock worth $1,150,000 after buying an additional 9,319 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Marqeta by 7.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company’s stock worth $3,813,000 after buying an additional 65,313 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Marqeta by 22.1% in the 1st quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock valued at $1,187,000 after acquiring an additional 52,219 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Marqeta by 61.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after acquiring an additional 3,737 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

About Marqeta

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.